Bridging Investment Gap in Somaliland
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|Somaliland: Pontus Marine Investment Targets the over 600 Species of Fishes in national Waters|
|Thursday, 29 August 2013 03:01|
Public share issue in Berbera takes place after technical differences between organizers and Sahil regional administration are solved amicably then not amicably
By: Yusuf M Hasan
BERBERA (Somalilandsun) – Residents of Sahil region finally received briefing on the fisheries sector development program fronted by the Pontus Marine Ltd that is issuing shares of the company worth $5m
Despite the failure to undertake the function a day earlier caused by the police which ordered organizers to stop activities then in motion at the Barwago Hotel in Berbera following orders of the regional governor the program went on the following day (28th) as planned.
"Kindly accept my apologies for the failure to kick off activities last night which was occasioned by some technicalities that necessitated postponement until proper arrangements are put in place" said the managing director of Pontus marine Mr. Ahmed Abokor in his opening address to the assembly of prominent personalities and investors.
The Pontus Marine ltd boss who gave a presentation of proposed development activities to be conducted within the country's fisheries sector said the company intends to put Somaliland in the international market as a provider of assorted marine products.
"Within our territorial waters there are 600 species of fishes that are in demand worldwide and we in Pontus marine and local and Diaspora investors who already own or plan to buy shares in the company shall harness for the benefit of the country and its people" said Abokor
While revealing that the any investments in the company is secure the MD informed that world prominent personalities are steering activities while official registration of Pontus marine in the UK gives investors the security offered by that country.
Said he, "The chairperson of the company and among those spearheading the fishing program is a former UK minister for Africa while legal matters pertaining to finances are under the charge of a team of prominent legal minds who include a Somaliland entrepreneur Mohamed Yusuf"
The prospective shareholders of Pontus marine an international company owned by somalilanders mostly in the Diaspora is to be partners in a fisheries sector development that will see the country attempt for the first to have its marine resources fully benefitting residents.
According to Mr. Abokor hundreds of somalilanders in the Diaspora have already acquired Pontus marine ltd fisheries development shares thence the opportunity for local based ones to do likewise through the $5m worth of shares on offer.
"The company is focusing on supplying fully processed quality fishery to both domestic and overseas markets through the acquisition of state of the art technology and the establishment of canning factories in a number of port cities" said Mr. Abokor
According to company plans the successful implementation of the project shall in its initial year create over three hundred much needed new jobs not only in fishing but other related sectors.
A former Director General in gthe ministry of Fisheries and marine resources Mr. Mohamed Awil who applauded the company founders for their innovative scheme of fisheries development and public share issue urged Sahil residents not to hesitate and buy shares now rather than later.
Bringing the event to conclusion was Sahil traditional leader Sultan Mahmud Ahmed Sheikh who upon congratulating Pontus marine for resilience, also apologized on behalf of residents of the entire Sahil region for the mishaps that saw the original function barred by police from taking place and subsequent attempts to do so during the second' day.
Despite the disruption of the original event and attempts on the second day Guul Group which is organizing events on behalf of Pontus Marine managed to register over 50 interested investors from within Sahil region communities.
A prior event in Burao town saw over 79 residents of Toghdeer region register for purchase of shares reported to be worth $600,000 and still counting as the next event is planned for Marodhi-jeeh region in Hargeisa on 1st September.
Be there to be part of this great innovative project designed to stimulate the country's fishing industry thus provide sustainable livelihoods, employment opportunities and economic development.